Hi
1. how about TRAILING SL with distance to the market "20 pips" each 3, or 5, or 10 pips.
If there is momentum then you loose less (in case of retrace within a candle) because you reduce SL. Trailing SL is less than 20 pips so you loose less.
If there is no momentum you loose the same as if you have not trailed SL.
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2. how about you locate @entry on chosen levels and not on every "20-level". You would locate @entries just after intraday PIVOT LEVEL (possibly combined with weekly pivot levels). Ie. You wolud only use @entries on the other side of that level .
possibly you would maximise the probability of having a stronger momentum required to cross the pivot level which reduces the risk of retracement to SL.
in such case i would definitely use a TRAILING SL, because you could enter nicely but the price could reject the pivot level and come back to SL. However still this would be reduced SL, as mentioned in point 1.
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3. how about adding to the point 2 additional filter - 50% of previous candle. You would only locate @entires above pivot level + above 50% level.
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4. how about using SL on the EXTREME of previus 4H candle, and trailing SL this way ?
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I am also interested in SL placement. I love to loose (SL), If i loose small.
HGI and proper stop loss
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- Posts: 7
- Joined: Thu Feb 20, 2014 1:07 pm
HGI and proper stop loss
Last edited by fxcommentary on Sat Aug 15, 2015 2:15 pm, edited 2 times in total.
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- Posts: 7
- Joined: Thu Feb 20, 2014 1:07 pm
HGI and proper stop loss
This is an example.
Price did not test SL zone.
Price did not test SL zone.
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Last edited by fxcommentary on Sat Aug 15, 2015 2:17 pm, edited 1 time in total.